Friday, January 07, 2005

US court lets US Airways void labor contract, drop pensions

In another dangerous move, a bankruptcy judge has voided a labor contract and dropped the pension plan for USAirways. This is another dangerous precedent being backed by the Bush Crime Family in their all out war on working people. I call on all these employees and their supporters to leave their jobs and show USAirways what financial troubles actually are when they have no one present to perform their operations.
Another way to look at labor costs, is to look at David Seigel's, CEO of US Airways Group, compensation package. In 2003, David N. Siegel raked in $8,996,026 in total compensation including stock option grants from US Airways Group.
Overcompensated CEOs is a good place to start when a company files for bankruptcy and this is an example of why a reform of bankruptcy laws is necessary.
Until the selected regime, squatting in the White House, addresses these problems, which they won't, nothing is going to solve this crisis and workers will continue to carry the blame and burden for corporate failure.

More info can be found here>>>> And the story about US Airways is here>>>.


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